| MAXTAK CAPITAL ADVISORS LLC |
NFA 10BCC00024 |
NFA ID: 0357840 |
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| 0357840 | MAXTAK CAPITAL ADVISORS LLC | 01/04/2011 | | 0358117 | PETAK, JONATHAN | 01/04/2011 |
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| 0357840 | MAXTAK CAPITAL ADVISORS LLC | • BLAW1101 - MEMBS MAY NOT DO BUS. W/ NON-MEMBS | | | | • C.R.2-4 - HIGH STDS. OF COMMERCIAL HONOR | | | | • C.R.2-9(a) - SUPERVISION OF EMPLOYEES | | | | • R.R.208 - CHANGES REQUIRING NEW REGISTRATION | | 0358117 | PETAK, JONATHAN | • C.R.2-9(a) - SUPERVISION OF EMPLOYEES | | | | • R.R.208 - CHANGES REQUIRING NEW REGISTRATION | | | | • C.R.2-4 - HIGH STDS. OF COMMERCIAL HONOR |
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| 0357840 | MAXTAK CAPITAL ADVISORS LLC | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE | | 0358117 | PETAK, JONATHAN | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE |
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| 0357840 | MAXTAK CAPITAL ADVISORS LLC | • GENERAL CONDUCT | | | | • REGISTRATION | | 0358117 | PETAK, JONATHAN | • GENERAL CONDUCT | | | | • REGISTRATION |
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| 0357840 | MAXTAK CAPITAL ADVISORS LLC | • PERMANENT WITHDRAWAL FROM NFA MEMBERSHIP | 12/20/2010 | | 0358117 | PETAK, JONATHAN | • TEMPORARY WITHDRAWAL FROM NFA MEMBERSHIP 2 YRS | 12/20/2010 | | | | • FINE (CONTINGENT) $50000 | 12/20/2010 | | | | • TEMPORARY WITHDRAWAL FROM NFA ASSOCIATE MEMBERSHIP 2 YRS | 12/20/2010 | | | | • TEMPORARY WITHDRAWAL FROM PRINCIPAL STATUS 2 YRS | 12/20/2010 |
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT:
On August 19, 2010, NFA issued a Complaint charging MCA with doing business with an entity and individual who should have been registered with the CFTC but were not. The Complaint also charged MCA and Petak with failing to uphold high standards of commercial honor and just and equitable principles of trade; failing to diligently supervise MCA's operations; and failing to list a principal.
ANSWER:
On September 29, 2010, MCA and Petak filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION:
On December 20, 2010, pursuant to a settlement offer submitted by MCA and Petak, MCA and Petak were ordered to withdraw from NFA membership and associate membership, respectively, within 60 days of completing the liquidation of Maxtak Partners LP. MCA was further ordered to never again apply for NFA membership or principal status with any NFA Member.
Petak was ordered not to apply for NFA membership, associate membership or principal status for two years from the date of his withdrawal from NFA. In addition, should Petak attain NFA membership or associate membership or become a principal of an NFA Member at any time in the future, he was ordered to pay a $50,000 fine which is due in full within thirty days of attaining any such status. | | | |
| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT:
On August 19, 2010, NFA issued a Complaint charging MCA with doing business with an entity and individual who should have been registered with the CFTC but were not. The Complaint also charged MCA and Petak with failing to uphold high standards of commercial honor and just and equitable principles of trade; failing to diligently supervise MCA's operations; and failing to list a principal.
ANSWER:
On September 29, 2010, MCA and Petak filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION:
On December 20, 2010, pursuant to a settlement offer submitted by MCA and Petak, MCA and Petak were ordered to withdraw from NFA membership and associate membership, respectively, within 60 days of completing the liquidation of Maxtak Partners LP. MCA was further ordered to never again apply for NFA membership or principal status with any NFA Member.
Petak was ordered not to apply for NFA membership, associate membership or principal status for two years from the date of his withdrawal from NFA. In addition, should Petak attain NFA membership or associate membership or become a principal of an NFA Member at any time in the future, he was ordered to pay a $50,000 fine which is due in full within thirty days of attaining any such status.
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